It is almost as if the assortment is merely a starting point, but just because a store cannot physically hold stock of 12’ canoes does not mean a customer should not be able to pick one up in-store a day or two after ordering online… and if that canoe is not on the assortment assigned to that store how can the customer be satisfied? luxury and fashionable brand new interior of cloth store. Creating Retail Product Assortments. Today most retailers are facing increased competition from new challenges in the marketplace. Product assortment planning happens by period, whether daily, weekly, monthly, quarterly, or some other cadence. Assortment planning is the process of selecting the collection of products which will be on offer in particular areas (localisation) and during specified periods of time (seasonality). This task enables retailers to analyze their current assortment and past assortment (last year, last plan) from a performance perspective, consumer segment perspective, and … In the retail industry, product breadth refers to the scope and variety of products that a store offers. This concept usually deals with the number of products carried as well as the variety of products sold. The ultimate aim of retail merchandising is to create a customer-centric environment that makes it easy for shoppers to find the goods they want. See more. Of course, needs differ among various types of retailers. Let’s examine again how food retailers can vary from one another, considering assortment. Assortment planning breaks the Merchandise Plan down into the components that enable the planner to address customer preference and need. Assortments (Retail essentials) 08/15/2014; 3 minutes to read; K; v; In this article. Assortment definition: An assortment is a group of similar things that are of different sizes or colours or have... | Meaning, pronunciation, translations and examples A wide variety—the opposite of a narrow variety—of products means that a retailer carries a large number of different products. But having too many different products in too many categories can be confusing and cause shoppers to have too many options where they freeze up. Retailers engage in assortment planning because they need to periodically revise their assort-ment. Just so, what does assortment mean in retail? This concept usually deals with the number of products carried as well as the variety of products sold. Let's consider what features make assortment management software effective, what the importance of this system for business is, and how it works. Assortment definition: An assortment is a group of similar things that are of different sizes or colours or have... | Meaning, pronunciation, translations and examples Product assortment is characterized by its breadth, length, depth, and consistency. Assortment planning addresses the fundamental element of what items will be available for sale. Assortment affects costs because it drives inventory decisions. Why not just offer everything in every store? Synonyms for assortment in Free Thesaurus. Retailers care about variety because customers value variety. Efficient Assortment Defined. However, refined and proven methods for applying assortment strategies may increase ROI and other KPI:s, not only in traditional retailing but also by businesses that focus on ecommerce. In the following example, a unique assortment is configured for each store. And it’s about making smart decisions that have a positive impact on the bottom line. A collaborative supplier-distributor process of determining the optimal product offering, within a category, that achieves target consumer fulfillment and enhanced business results. It is very important for the retailer to pick the right product for the right season and then order the required quantities so that the retailer is not overstocked or understocked. Definition: Retail assortment planning is defined as planning of the right quantity of stock for the right month or season for the right customers. In the retail industry, product breadth refers to the scope and variety of products that a store offers. What is the difference between depth and breadth? Businesses can thrive or dive depending on how accurate (or not) an assortment is for any given season. Use interviews, questionnaires, surveys and focus groups to gather insights SKU rationalization process SKU. Planning software programs can provide retail space depending on season, available vendors, shelf space budget. 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